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As market volatility and inflation continue to be on the mind of people, emotional security has become increasingly important. Research by organizations such as Reuters, Vanguard, PwC, and The U.S. Luxury Institute, confirms that 80% of the value that clients and prospects receive is based on the emotional support they receive partially defined as the empathy we demonstrate.
The challenge is how to demonstrate empathy as you probe for opportunity?
Here is a place to start.
Empathetic initial rapport is critical to establish a true connection and their sense of emotional security. Initial questions to help them know you are there for them are:
- What are you most proud of in your life?
- What other things do you want for your life?
- What is your greatest accomplishment thus far?
- What do you wish could be improved in your day-to-day finances / financial management?
And when it comes to asking the sensitive financial questions use, “if you don’t mind me asking,” at the end of the sentence to demonstrate empathy versus at the beginning which ALWAYS puts people on guard as they think “oh now what?” or “ok here it comes.”
- Who is your current financial advisor…if you don’t mind me asking?
- What is your total savings and investments to-date… if you don’t mind me asking?
- What is your plan if the business doesn’t sell in six months…if you don’t mind me asking?
- What’s holding you back…if you don’t mind me asking?
Empathy creates emotional security and thus a sense of connection and belonging.
Go forth and demonstrate, they will be glad you did, and you will be too.